4C – Consecutive Robust Growth

Orcoda ASX ODA

Orcoda Limited (ASX: ODA) is pleased to provide shareholders and investors with an overview of activities to accompany the financial report (Appendix 4C) for the quarter ending 31 March 2023.

Highlights – ASX Release and Quarterly Financial Report (4C)

  • Consecutive robust growth of 33% in quarterly customer cash receipts and total income growth of 50% (compared to the previous corresponding quarter).
  • Year to date the customer cash receipts total $16.6 million and the total income is at $15.5 million. ORCODA is therefore well on track to exceed FY2022 full year results.
  • Profitable quarter with positive operating cash flows of $1.0 million, which is up by 240% compared to the previous corresponding quarter.
  • The investments made in the last few quarters in various areas, such as sales & marketing, restructuring and new recruitments, are starting to yield tangible benefits, such as the signing of new SaaS contracts and a $4.1m major works contract during the quarter.
  • Cash and cash equivalents of $4.4 million and available working capital of $5.4 million as of 31 March 2023, to fund future growth.
  • ORCODA continues to focus on (1) software developments; (2) working with channel partners to commercialise new products; and (3) convert leads to increase our recurring revenue base.

Commenting on the Quarter, Orcoda Managing Director, Geoff Jamieson, said: “In this Quarter, we have continued to deliver strong growth in customer receipts and total income compared to previous periods. I am also pleased to report that operating cash flows for the Quarter returned to positive territory as we benefit from the investments in sales & marketing and software development and restructurings within The Betta Group during the first half of FY2023. 

During the Quarter, we signed new SaaS contracts which are adding to our recurring revenue base, and The Betta Group was very busy on delivering works for our core clients including the $4.1m Yurika contract and building a strong pipeline for the next 12 months. Our technology team is developing some exciting products leveraging our existing OLMS platform which we target to commercialise later this year. I look forward to providing updates on our progress and reporting on our FY2023 full year results in the coming months.

I am excited about Orcoda continuing to be a leader in providing intelligent transport and logistic technology solutions and services to clients against the broader digital transformation that is accelerating within every one of our markets.”


Robust Cash Position

Available working capital of more than $5 million provides Orcoda with flexibility to invest in organic and inorganic growth opportunities.

Resource Logistics Division

  • $4.1 million works contract with Yurika
  • A 1628 Minor Works Panel Member with EQL (Energy Queensland Limited)
  • Actively pursuing multiple opportunities in the $1bn Rockhampton Ring Road Project
  • Ongoing major work in hand with Aurizon
  • Renewed Maintenance Services Agreement with Downer Defence
  • Maintenance Services Agreement in hand with Komatsu
  • 3-year SaaS contract with Kestrel Coal


Healthcare and Transport Logistics Division

  • Continue to service our loyal customer base and new customers via SaaS / recurring revenue model which is showing good growth.
  • Technology development of the new ORCODA GO app has been licenced to a City Council for waste collection technology which was a joint sale with Telstra and Teletrac Navman through our teaming agreement.
  • Preparation for Mt Buller Ski Resort snow season (starts May) with new technology updates.



 We continue to execute our long-term vision of developing an eco-system of Intelligent Transport Management Systems (ITMS) to drive continual digital transformations, electrification, and optimisation of our clients’ supply chain processes to deliver a fully integrated and connected transport ecosystem.

Our strategy is to actively position ourselves as a leading player in the transport related smart city infrastructure and electrification build-out utilising our existing market leading platforms, our new products as they come on stream, coupled with our digital twins R&D project entered into with multiple Universities, which we expect has the potential to accelerate our growth over the next 5-10 years as part of our long-term strategy.

We believe our market leading software platforms, our electrification installation and project management capabilities with Betta Group and our ongoing R&D program, give us a unique competitive advantage in achieving both our short-term goals (delivering profitable growth to our shareholders in the short term) and also our long-term strategy to ensure our growth is sustainable into the future.

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